Moratorium (1) When the application is admitted under section 100, a moratorium shall commence in relation to all the debt s and shall cease to have effect at the end of the period of one hundred and eighty days beginning with the date of admission of the application or on the date the Adjudicating Authority passes an order […]
Admission or rejection of application (1) The Adjudicating Authority shall, within fourteen days from the date of submission of the report under section 99 pass an order either admitting or rejecting the application referred to in section 94 or 95, as the case may be. (2) Where the Adjudicating Authority admits an application under sub-section (1), it may, on the request of the resolution professional,
Submission of report by resolution professional (1) The resolution professional shall examine the application referred to in section 94 or section 95, as the case may be, within ten days of his appointment, and submit a report to the Adjudicating Authority recommending for approval or rejection of the application. (2) Where the application has been filed under section 95, the resolution professional may require the
Replacement of resolution professional (1) Where the debtor or the creditor is of the opinion that the resolution professional appointed under section 97 is required to be replaced, he may apply to the Adjudicating Authority for the replacement of the such resolution professional. (2) The Adjudicating Authority shall, within seven days of the receipt of the application under sub-section (1) make a reference to the Board for replacement
A Company is an official entity that involves formal transactions. Every gathering, communication, or transaction which has the potential to affect any interest of the members shall be recorded. These records achievements help in tracking the developments and changes in the functioning of the business. The notes or recommendations recorded during such meetings of the company
The Passport Seva has implemented a number of measures to enhance the management of passport offices. These processes’ primary goals are to guarantee comfort, improve security, and advance transparency. Before visiting the Passport Seva Kendra (PSK), you must make a payment online. You must make a reservation for a time in advance to visit the
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting an issue with his tax account. The notice can be sent for different reasons like filing/ non-filing their income tax return, making the assessment, asking for certain details, etc. When the Income Tax Department sends a notice,
Appointment of resolution professional (1) If the application under section 94 or 95 is filed through a resolution professional, the Adjudicating Authority shall direct the Board within seven days of the date of the application to confirm that there are no disciplinary proceedings pending against resolution professional. (2) The Board shall within seven days of receipt of directions under sub-section (1) communicate to the Adjudicating Authority in writing either
Interim- moratorium (1) When an application is filed under section 94 or section 95 – (a) an interim-moratorium shall commence on the date of the application in relation to all the debt s and shall cease to have effect on the date of admission of such application; and (b) during the interim-moratorium period – (i) any pending legal action
Application by creditor to initiate insolvency resolution process. (1) A creditor may apply either by himself, or jointly with other creditors, or through a resolution professional to the Adjudicating Authority for initiating an insolvency resolution process under this section by submitting an application. (2) A creditor may apply under sub-section (1) in relation to any partnership debt owed to him for initiating an insolvency resolution
CA Bhuvnesh Kumar Goyal
Chartered Accountants
cabkgoyal@gmail.com
9971782649
Ph: 9971782649
E: cabkgoyal@gmail.com
